Hi,

A good thing I bumped into this thread. This will be my first property auction that I intend to partake.

I came across a little signboard placed on lamp post and trees along the roads about a "Bank Lelong". The house was priced at RM450K, I called the number at the sign and this man saying he was with bank X and that the auction has passed and the next would be held after 1 month and the price would RM410K.

After a few days, another 'Bank Lelong" board appeared for the same house and this time a different phone number was on it. Curious, I called and the man on the other line told me that he's with Bank Z....weird. He told me the same thing....auction over, wait for next and price is RM410K.

So now I am kinda stumped....no way that 2 banks wants to lelong the same house?

The first bank "officer" told me that is impossible and he is willing to fax me information regarding the auction and the house.

How do I go about to check this matter?

I have seen the house and since it the door was unlocked and abandoned....i look inside. It was never occupied.

Sorry for the long story....hope someone can shed a light.

Thanks

The problem now is that I am trying to gather as much information about the house and also why is there 2 party that claim they are working for the different banks.

That is the main concern at the moment. I will visit the Land office to check on the house based on recommendation i read in this forum. Check for caveat...is that right?

Will the auctioneer provide us information about outstanding bills?
Can I get the POC now?

Thanks for the input. I think it's an agent...cos rite after i saw the new sign...i drove by the house and now the gate has been pushed wide open. Could it be that the agent is trying to attract more potential buyers to UP the price?

Can anyone enlighten me about hassles/problems that one might face buying an auction house? Apart from checking for caveats, outstanding utility bills, quit rent...anything else?

Appreciate it.
Thanks

There are very few cases with dead bodies....drugs....aliens....

I have managed to contact the bank....and spoken to the officer that's in charge of the particular house. And gotten the POS.

He has been a lot of help...advising me on the proper way of doing things when buying a house during an auction. Recommended me some lawyers too.